Lavage Rapide is a Canadian company that owns and operates a large automatic car wash facility near Montreal. The following table provides estimates concerning the company's costs: Fixed Cost Cost per Car per Month Hashed Cleaning supplies Electricity Maintenance Wages and salaries Depreciation $ 0.40 $ 0.10 $ 0.20 $ 0.30 $ 1,100 $ 4,400 $ 8,500 $ 2,200 $ 1,600 Rent Administrative expenses $ 0.03 For example, electricity costs should be $1,100 per month plus $0.10 per car washed. The company expects to wash 8,300 cars in August and to collect an average of $6.70 per car washed. The company actually washed 8,400 cars in August. Required: Calculate the company's activity variances for August. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.) Lavage Rapide Activity Variances For the Month Ended August 31 Revenue Expenses: Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses Total expense Net operating income

Lavage Rapide is a Canadian company that owns and operates a large automatic car wash facility near Montreal. The following table provides estimates concerning the company's costs: Fixed Cost Cost per Car per Month Hashed Cleaning supplies Electricity Maintenance Wages and salaries Depreciation $ 0.40 $ 0.10 $ 0.20 $ 0.30 $ 1,100 $ 4,400 $ 8,500 $ 2,200 $ 1,600 Rent Administrative expenses $ 0.03 For example, electricity costs should be $1,100 per month plus $0.10 per car washed. The company expects to wash 8,300 cars in August and to collect an average of $6.70 per car washed. The company actually washed 8,400 cars in August. Required: Calculate the company's activity variances for August. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.) Lavage Rapide Activity Variances For the Month Ended August 31 Revenue Expenses: Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses Total expense Net operating income

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Lavage Rapide is a Canadian company that owns and operates a large automatic car wash facility near Montreal. The following table provides estimates concerning the company's costs: Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Administrative expenses Rent Fixed Cost per Month $1,500 $ 4,800 $8,200 $ 2,200 $ 1,600 Cost per Car Washed $0.50 $ 0.05 $ 0.15 $ 0.20 $ 0.05 For example, electricity costs should be $1,500 per month plus $0.05 per car washed. The company actually washed 8,300 cars in August and collected an average of $6.80 per car washed. Check my we
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Lavage Rapide is a Canadian company that owns and operates a large automatic car wash facility near Montreal. The following table provides data concerning the company's costs: Fixed Cost Cost per Car Washed se.80 $0.15 $0.20 $0.30 per Month Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Adninistrative expenses $1,200 $5,000 $6,000 $8,000 $4, 000 Book s0. 10 Print For example, electricity costs are $1,200 per month plus $015 per car washed. The company expects to wash 9,000 cars in August and to collect an average of $4.90 per car washed. The company actually washed 8,800 cars in August. Required: Calculate the company's activity variances for August. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.) erences Lavage Rapide Activity Variances For the Month Ended August 31 Revenue Expenses: Cleaning supplies Electricity Maintenance…
Lavage Rapide is a Canadian company that owns and operates a large automatic car wash facility near Montreal. The following table provides estimates concerning the company's costs: Fixed Cost per Month Cost per Car Washed Cleaning supplies $ 0.50 Electricity $ 1,300 $ 0.07 Maintenance $ 0.20 Wages and salaries $ 4,000 $ 0.30 Depreciation $ 8,400 Rent $ 2,200 Administrative expenses $ 1,600 $ 0.03 For example, electricity costs should be $1,300 per month plus $0.07 per car washed. The company expects to wash 8,200 cars in August and to collect an average of $6.70 per car washed. The actual operating results for August are as follows: Lavage Rapide Income Statement For the Month Ended August 31 Actual cars washed Revenue Expenses: Cleaning supplies Electricity Maintenance Wages and salaries Depreciation Rent Administrative expenses Total expense Net operating income Required: 8,300 $ 57,040 4,600 1,844 1,880 6,820 8,400 2,400 1,746 27,690 $ 29,350 Calculate the company's revenue and…
Lavage Rapide is a Canadian company that owns and operates a large automatic car wash facility near Montreal. The following table provides estimates concerning the company's costs: Fixed Cost per Cost per Month Car Wanhed $ 0.60 $0.09 $ 0.10 $ 0.20 Cleaning nupplies Electricity $1,400 Maintenance $ 4,300 $ 8,500 $ 1,900 $ 1,300 Wages and salaries Depreciation Rent Administrative expenses $ 0.03 For example, electricity costs should be $1,400 per month plus $0.09 per car washed. The company expects to wash 8,300 cars in August and to collect an average of $6.80 per car washed. The company actually washed 8,400 cars in August. Required: Calculate the company's activity variances for August. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.) Luvage Rapide Activity Varlances For the Month Ended August 31 Revenue Expenses Cleaning supplies Electricity Maintenanna
Lavage Rapide is a Canadian company that owns and operates a large automatic car wash facility near Montreal. The following table provides data concerning the company’s costs: Fixed Costper Month Cost perCar Washed Cleaning supplies $ 0.80 Electricity $ 1,200 $ 0.15 Maintenance $ 0.20 Wages and salaries $ 5,000 $ 0.30 Depreciation $ 6,000 Rent $ 8,000 Administrative expenses $ 4,000 $ 0.10 For example, electricity costs are $1,200 per month plus $0.15 per car washed. The company expects to wash 9,000 cars in August and to collect an average of $4.90 per car washed. The actual operating results for August are as follows: Lavage Rapide Income Statement For the Month Ended August 31 Actual cars washed 8,800 Revenue $ 43,080 Expenses: Cleaning supplies 7,560 Electricity 2,670 Maintenance 2,260 Wages and salaries 8,500 Depreciation 6,000 Rent 8,000 Administrative…
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